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New Jersey Powerball Jackpot Annuity Payout Schedule for Oct 4, 2014

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The tax information provided here is based on 2025 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $60,000,000 for a ticket purchased in New Jersey, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Sat, Oct 4, 2014
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,069,806$352,848$115,004$601,953
2$1,112,598$368,682$119,604$624,312
3$1,157,102$385,148$124,388$647,566
4$1,203,386$402,273$129,364$671,749
5$1,251,522$420,083$134,539$696,900
6$1,301,583$438,606$139,920$723,057
7$1,353,646$457,869$145,517$750,260
8$1,407,792$477,903$151,338$778,551
9$1,464,103$498,738$157,391$807,974
10$1,522,667$520,407$163,687$838,573
11$1,583,574$542,943$170,234$870,397
12$1,646,917$566,380$177,044$903,494
13$1,712,794$590,754$184,125$937,915
14$1,781,306$616,103$191,490$973,712
15$1,852,558$642,467$199,150$1,010,941
16$1,926,660$669,884$207,116$1,049,660
17$2,003,726$698,399$215,401$1,089,927
18$2,083,876$728,054$224,017$1,131,805
19$2,167,231$758,896$232,977$1,175,358
20$2,253,920$790,971$242,296$1,220,653
21$2,344,077$824,329$251,988$1,267,760
22$2,437,840$859,021$262,068$1,316,751
23$2,535,353$895,101$272,550$1,367,702
24$2,636,767$932,624$283,452$1,420,691
25$2,742,238$971,648$294,791$1,475,799
26$2,851,928$1,012,233$306,582$1,533,112
27$2,966,005$1,054,442$318,846$1,592,717
28$3,084,645$1,098,339$331,599$1,654,707
29$3,208,031$1,143,992$344,863$1,719,176
30$3,336,352$1,191,470$358,658$1,786,224
Total$60,000,000$20,910,607$6,449,999$32,639,396

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.